Thursday 3 October 2013

USA Government Funding

I have worked for a number of great American and have some very good friends from the USA. I have always found the American  "go getting" attitude refreshing. I have learnt a lot from American business and project management practices.

The current impasse between the US Congress and the President must be disturbing the US public and its businesses greatly.

There is now the possibility that come October 17th 2013 there will not be an agreement on the debt ceiling and that the US government will default on some of its debt. This will have potentially serious consequences for both the US and the world economy itself.

http://www.forbes.com/sites/afontevecchia/2013/09/30/shutdown-and-debt-ceiling-debate-prove-u-s-doesnt-deserve-aaa-credit-rating-sp/

Fear could generate another economic crisis. Let us hope that commonsense prevails to avert a dangerous run on the dollar. The American people must be in despair of their politicians at the moment.

If the worse comes to the worst then FDR had the right attitude: "the only thing we have to fear is fear itself."

Let the financial markets take note.

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